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France and Germany risk starting a new financial crisis if they try to use Brexit to dismantle the London-based heart of the global economy “just to make a political point,” one of the City’s most senior figures has warned.

Xavier Rolet, chief executive of the London Stock Exchange Group, says European leaders who demanded tighter global regulation after the 2008 financial crisis are now threatening to “fragment” those same standards to punish Britain for Brexit.

Writing for The Telegraph, Mr Rolet calls on the Bank of England and regulatory bodies in Europe to speed up talks on regulation to ensure that the carefully constructed system of global regulation developed to stop unexpected risks...